Dudley Duncan founded Quest Swimming in September 2003. He purchased a neighbourhood (outdoor) swimming pool with a vision for an Aquatic Campus, to concentrate on training competitive swimmers and teaching “the art of swimming.”
Presently, the campus includes the original training pool for competitive swimming (which is now covered year around), an indoor teaching pool, an outdoor exercise centre installed by MoveStrong Functional Fitness, a building to house a swim supply store, office space and changing facilities.
The target population is greater Richmond, VA, USA.
For more details, visit his website here.
Here we sit down with Dudley to discuss his journey as an entrepreneur!
Q. How did your entrepreneurial journey start? What inspired you?
Dudley: I started a pool management business in 1996 with a partner. I was the majority partner in that business until 2012. The Quest Swimming property was purchased, with partners, in 2003. I traded shares with the partners and refinanced the loan to gain sole ownership of the Quest Swimming property in 2012.
I coached competitive swimming from 1968 until 2019. I also developed “a way” of teaching and training which I shared in a book titled: The Art of Swimming & The Game of Racing.
The book also discusses the purchase of property and the ownership of business. This overall experience led to inductions into the swimRVA Hall of Inspiration, the Virginia Swimming Hall of Fame, the American Swim Coaches Hall of Fame and the International Swim Coaches Hall of Fame. I am currently retired from coaching, and have sold the business on an instalment payment basis (in concept) which enables me (and my family) to maintain our current lifestyle.
Q. What entrepreneurial tricks have you discovered to keep you focused and productive?
Dudley: I hired a lawyer to get the business incorporated and an accountant to update books quarterly + taxes at year’s end. I was the only worker initially to work the business and maintain the property. It was strict scheduling and 16 – 18 hour days in the first year. All money went into the business and I took income from my ownership in the pool management business. I watched cash flow daily – without fail.
Cash flow was the greatest challenge until about 2012. I felt like I could think of ways to meet cash flow challenges if I was able to anticipate them rather than “be surprised.” Eventually, I rezoned the property from Residential to Commercial which changed the appraised value from $468,000 to $2.62 MM.
This changed everything, to enable the campus vision to unfold. Revenues are expected to be about $2 MM for 2024. We are now working on a 2nd campus to extend our offerings. With that, we anticipate revenues will approach $5 MM per year.
Q. How do you stay organised with such a busy schedule?
Dudley: Do what is required at the moment; that is, do not procrastinate!
Hires are (largely) from people who have come through our programs and systems, such that the integrity of teaching and training of swimmers is maintained.
We do payroll through our bank payroll system. We now have 25 employees plus or minus, depending on the time of year. We have a written handbook for competitive swimming policies and procedures, and a manual for the Swim School.
Continual indoor maintenance is accomplished by staff. Outdoor maintenance is contracted.
Q. What are 3 things you would do if you had a magic wand?
Dudley: 1) Education: I was educated through elementary school before there was standardised testing. Since, it has been “teaching to the test,” testing by standardised methods – which reduces critical thinking, curriculums have been compromised with less specificity for work preparation and standards of learning are compromised to (almost ) diminishing returns. Education needs to get “back to basics” in elementary and high school.
- Improved racial relations in societies. This, seemingly, could be accomplished easily if the population could resist the judgement of others – and themselves. This seems (to me) to be the seed of discontent in the world. Leaders and teachers address behaviour tendencies – but fail to get to the seed (effectively) for behaviour modification.
- Eliminate “acts of War.” War is the most egregious waste of humanity, resources and earth! No country, state, town, or individual benefits from acts of war.
Q. If you were to write a book about yourself, what would you name it?
Dudley: I wrote a book and named it “The Art of Swimming & The Game of Racing: Reflections of a USAS Club Swimming Coach.” The book chronicles my experience after 51 years of coaching club-level competitive swimmers and the lessons I learned.
Q. What motivates you?
Dudley: Excellence in all things motivates me. I have enthusiasm for championship competition while the process of getting there is work. I appreciate excellence in art, music and literature – according to my personal preference(s). Excellent leadership is recognizable and appreciated over average management. Excellence in public speaking is highly admired. Etc.
Q. What is one of the best or most worthwhile investments you’ve ever made?
Dudley: In 1996, I purchased a house in Frisco, NC on what is called the Outer Banks of North Carolina. I sold it in 1998 and bought a lot in Hatteras Village, NC for $56,000. I sold that lot, after a hurricane, in 2002 – for $226,000. I combined the profit from the sale of that lot with the sale of a house in Chester, VA with the sale of some inherited property in Harrisonburg, VA – and built a lake house on a reservoir in Midlothian, VA for $410,000. I sold that house for $700,000 in 2019 to retire to Vero Beach, FL in a house I built for $450,000. That investment in the Hatteras Village lot was a catalyst that benefited me for the rest of my working life.
Q. What key activities would you recommend entrepreneurs invest their time in?
Dudley: I would recommend reading business and leadership books. I would also recommend physical fitness activities. Mind, Body and Spirit activities are necessary to maximise individual potential. Many people neglect their bodies when schedules get busy. Also, give all your attention to your family when you’re spending time with them. Don’t mix business with family time because it doesn’t mix well and they deserve your full attention. Lastly, invest in staying ahead of taxes. Pay estimates quarterly, as recommended, so you aren’t overwhelmed when the tax bill is due.
Q. What is your ‘one-sentence’ piece of advice you’d like to give to someone who wants to become an entrepreneur, coach, or business owner?
Dudley: Communicate with loved ones consistently to keep perspective in balance for all concerned while you work (almost constantly) to keep the business alive, because there is always an imbalance between family and work; therefore, communicate the “things” that are happening in the moment, rationales for your commitments to the business and your hopes to come into better balance eventually.
To keep up to date with Dudley and his journey, connect with him on Facebook, and Instagram.